Dogness (International) Corporation announced a strategic investment in Dogness Intelligent Technology Co., Ltd. (DITC), a Petcare Internet of Things (IoT) platform. The company has entered into an agreement to acquire a 19.5% equity interest in DITC.
The acquisition will be made in exchange for Dogness's Class A common shares and warrants to purchase Class A common shares. DITC, established in 2018, specializes in the research and development of IoT and app platforms within the pet industry.
This investment aligns with Dogness's strategic goals to integrate advanced IoT capabilities across its product lines. The collaboration aims to enhance the functionality and appeal of its intelligent pet products, driving future revenue growth and strengthening its competitive position in the expanding petcare market.
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